14.04.2016
Ekotechnika AG DE000A161234
DGAP-News: Ekotechnika AG shows more stable business performance in Q1 2015/2016
DGAP-News: Ekotechnika AG / Key word(s): Quarter Results/AGM/EGM
Ekotechnika AG shows more stable business performance in Q1 2015/2016
14.04.2016 / 09:37
The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
- Sales revenues climb to EUR 22.9 million (+20 %)
- EBIT improves to EUR -0.1 million (previous year: EUR -7.2 million)
- Positive equity after debt-equity swap (equity ratio: 12.7 %)
- First ordinary Annual General Meeting in Mannheim
Walldorf, 14 April 2016 - The Management Board of Ekotechnika AG (primary
market; ISIN: DE000A161234), the German holding company of the
EkoNiva-Technika Group, the largest dealer of international agricultural
machinery in Russia, will inform the shareholders about the past financial
year 2014/15 (30 Sept.), the preliminary figures for the first three months
of 2015/16 (1 Oct. to 31 Dec. 2015) and the current operating performance
at today's Annual General Meeting in Mannheim.
In the first quarter of the current financial year, Ekotechnika AG
generated consolidated sales revenues of EUR 22.9 million, up 20 % on the
same period of the previous year (EUR 19 million). The increase in the
Group's sales revenues is attributable to a considerable recovery in sales
of agricultural machinery and the continued strong replacement parts
business. The political and economic situation in Russia remains tight,
however. Geopolitical factors such as the unresolved Ukraine crisis and the
sanctions as well as economic factors such as the low oil price and the
high interest rates in Russia continue to have a strong impact on the
entire industry. Although Russian farmers have significant investment
requirements, this leads in combination with the greater support of local
technology to the spending restraint.
With the cost base having been adapted to the reduced market and revenue
expectations and the significant decline of currency losses, Ekotechnika
AG's earnings before interest and taxes (EBIT) improved from EUR -7.2
million to EUR -0.1 million in the first quarter of 2015/2016. Preliminary
earnings before interest, taxes, depreciation and amortisation (EBITDA)
amounted to EUR 0.4 million in the reporting period (previous year: EUR
-6.5 million). Consolidated net income before taxes increased from EUR
-18.1 million to EUR 58.5 million. The improvement is attributable to the
debt-to-equity swap completed in December, which resulted in a positive
one-time effect of over EUR 60 million. Adjusted for this effect, the
company posted a loss of approx. EUR 1.9 million, which is very satisfying
for a first quarter due to the extreme seasonality. The capital
restructuring also resulted in positive equity of approx. EUR 8.9 million
as of 31 December 2015. This is equivalent to an equity ratio of approx.
12.7 %.
Says Stefan Dürr, main shareholder and CEO of Ekotechnika AG: "The
framework conditions for the agricultural machinery business in Russia
remain challenging, although the developments of the past months give
reason for optimism. Now that we have completed the operational and
financial restructuring, we have a capital and cost base which will support
our business operations in the long term also under adverse market
conditions. With the support of our shareholders, we have thus got
Ekotechnika AG back on track."
The first ordinary Annual General Meeting of Ekotechnika AG will be held
today, 14 April 2016, at Congress Center Rosengarten in Mannheim. For more
information, visit
http://www.ekotechnika.de/de/investor-relations/hauptversammlung.html.
About Ekotechnika
Walldorf-based Ekotechnika AG is the German holding company of the
Ekoniva-Technika Group, the largest distributor of agriculture equipment in
Russia. The company's single most important supplier is John Deere & Co.,
the world's leading manufacturer in this field. In addition, Ekotechnika
sells equipment from another 11 market-leading manufacturers. Its main
business is in selling new equipment such as tractors but also milking
equipment and precision farming technology. In addition, the company sells
spare parts and provides service and maintenance. Ekotechnika's founder and
board member is Stefan Dürr, who has been active in the Russian farming
sector since the late eighties and has been instrumental in its
modernisation over the past two decades. In 2011 the equipment business was
separated from the farming business, which now operates independently under
the name Ekosem-Agrar. Operating 12 locations in attractive Russian farming
regions, Ekotechnika today employs around 520 people and generates sales of
EUR 109 million in 2014/2015. The Ekotechika stock is listed on the
Primärmarkt of the Düsseldorf stock market (ISIN: DE000A161234).
Contact
Ekotechnika AG // Johann-Jakob-Astor-Str. 49 // 69190 Walldorf // T: +49
(0) 6227 3 58 59 60 //
E: [email protected] // www.ekotechnika.de
Media / Investor Relations
Fabian Kirchmann // IR.on AG // T: +49 (0) 221 9140 970 // E:
[email protected]
---------------------------------------------------------------------------
14.04.2016 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------------
Language: English
Company: Ekotechnika AG
Johann-Jakob-Astor-Str. 49
69190 Walldorf
Germany
Phone: +49 (0) 6227 3 58 59 60
E-mail: [email protected]
Internet: www.ekotechnika.de
ISIN: DE000A161234
WKN: A1R1A1
Listed: Regulated Unofficial Market in Dusseldorf
Notierung vorgesehen. / Intended to be listed.
End of News DGAP News Service
---------------------------------------------------------------------------
454251 14.04.2016
|
Weitere Ad-hoc und Unternehmensrelevante Mitteilungen zu
Ekotechnika AG ISIN: DE000A161234 können Sie bei EQS abrufen
Handel , A16123 , ETE , FWB:ETE